UK - Credit Suisse Asset Management has launched a £250m offshore property unit trust.
The fund – which will be targeted at pension funds and life offices – will invest in UK commercial property and be driven by strategic asset allocation and individual stock selection.
CSAM head of UK property Glenn Newson said the new fund had been launched in response to client demand for property after its repeated outperformance against equities and gilts.
He added: “This high income yield helps to match pension fund liabilities and the asset class shows very little correlation to the UK equity or bond markets, thereby providing an important source of diversification.”
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.